Greenleaf Power acquires 28-MW biomass facility in California
(ADPnews) - Nov 15, 2010 - Denham Capital-backed biomass plants operator Greenleaf Power, said Monday it had bought a 28-MW biomass power plant in California, as part of its strategy to expand operations through sector acquisitions.
No financial details of the deal were disclosed.
The plant, located in the town of Scotia, produces heat and power from mill residuals and other biomass. It supplies power to the town and to a neighbouring saw mill. Output is sold under a long-term agreement with local utility Pacific Gas and Electric Co (PG&E).
"The Greenleaf Power business model is based on the identification of plants in proximity to reliable feedstock supplies, which can be enhanced through basic improvements which increase efficiency and production," company president Hugh Smith said. This is the company's second acquisition, after it purchased a 30-MW biomass facility in Wendell, California.